Description: In 1981 Congress enacted extensive changes in taxing and spending policies that supporters of these changes expected to generate sufficient revenues, despite a series of tax rate cuts, to balance the budget by FY84. After the onset of recession in early 1982, however, the Reagan Administration's projections showed widening budget deficits, which culminated in an actual FY83 deficit of $195.4 billion. Despite enactment of the Tax Equity and Fiscal Responsibility Act of 1982, and, more recently, the Deficit Reduction Act of 1984, large deficits are expected to persist, even under continued favorable economic conditions, unless Federal taxing and spending policies are altered dramatically.

Description: This issue brief discusses that possible forthcoming sale of a large, federally-owned railroad to the holding company of one of the Nation's largest railroads, or sale to a group of investors for later sale to the public through a stock offering.

Description: This issue brief discusses the ongoing debate centered around television and radio advertising of alcoholic beverages, especially as it relates to the possible negative influence on the drinking habits of minors.